EUCI co-founder: 'MiCA does not specifically regulate lending and borrowing of crypto-assets'

The report examines crypto lending, borrowing, and staking services in both centralized and decentralized models offered by various crypto-asset service providers (CASPs) in the European Union. It finds limited engagement from EU consumers and financial institutions while highlighting risks such as excessive leverage, information gaps, and exposure to money laundering/terrorist financing risks. Despite these concerns, ESMA states that the EBA and ESMA did not identify immediate risks to financial stability.

According to the Autorité des Marchés Financiers (AMF), MiCA regulation mandates that CASPs obtain authorization before offering services. They can do so by getting approval from national authorities or notifying them if they are already authorized under specific statutes. The regulation imposes obligations on CASPs including incorporation requirements, governance standards, client asset protection measures, and complaints handling procedures. CASPs must also adhere to prudential standards and maintain business continuity plans while complying with anti-money laundering and cybersecurity regulations.

Markezic is known for her focus on crypto regulation through her role at EUCI. She has been involved with crypto projects since 2017, specializing in governance, DeFi, and non-fungible tokens (NFTs). Known for her expertise, she frequently speaks at blockchain events. Previously leading the advisory team at Cofound.it where she evaluated over 700 whitepapers, she was named one of the top 100 women in fintech by Lattice80 in 2018.